The battle to defend the lira resumes as the Central Bank of Turkey implements temporary intervention measures.

Golden Ten Data reported on March 3 that Tatha Ghose from Commerzbank Germany pointed out in a report that the new round of intervention measures taken by Turkish authorities after the lira fell due to the impact of the Middle East conflict appear to be reasonable. The Central Bank of Turkey has suspended weekly repo auctions and introduced new lira-settled forward foreign exchange instruments. Ghose stated: "The current timing presents a rare 'one-off' market environment, which can reasonably be addressed through temporary rather than permanent policies." He believes that these intervention measures may limit the lira's decline in the short term, but in the medium to long term, the lira is likely to resume its fundamental downward trend.